PPG Industries and Devold AMT AS? has signed an agreement here forming a 50-50 joint venture to manufacture glass-fiber reinforcement fabrics used in turbine blades for the North American wind energy market.
The parties had previously announced their intention to form a joint venture. The new venture, PPG-Devold, leverages PPG's infrastructure and position in the United States and Devold's investment in stitched reinforcement technology. Officers of PPG-Devold LLC are Kåre Dybvik as chief executive officer and Herbert Elder as president and operations manager. Financial terms of the agreement were not disclosed.
